CoursHeroTranscribedText: The director of surgery at a local hospital is interested in understanding his unit's...
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Accounting
CoursHeroTranscribedText: The director of surgery at a local hospital is interested in understanding his unit's costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with the number of procedures performed in the unit. The assistant analyzed the data using a spreadsheet program, and the following output was generated. Equation Intercept $1,003,000 Coefficient on procedures $ 215 Statistical data Correlation coefficient 0.503 32 0.253 The unit is planning to perform an average 17,000 procedures per month for the coming year
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